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AUGUST 15, 2000

Peter Temin, an economics professor from the Massachusetts Institute of Technology, testified that the Cayuga Nation land claim is worth $1.7 billion.

Temin based his calculations on the compounded annual interest of the risk-free rate of U.S. Treasury bills from 1795 to 2000. He applied the rate to a jury award of $36.9 million for for 64,000 acres of land illegaly taken by New York State.

Temin's testimony is part of the final phase of the Cayuga land claims case. US District Court Judge Neal McCurn must decide how much interest to add, if any, to the February jury award.

Get the Story:
Expert: Cayugas due $1.7B (The Albany Times-Union 8/15)

Relevant Links:
Peter Temin, Massachusetts Institute of Technology - web.mit.edu/ptemin/www

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